Generational divides are always tricky to bridge. Whether you’re thinking about how a parent and child evaluate a simple situation or how a global corporation recruits and retains associates, different ages and experiences create different expectations.
During the most recent National Trailer Dealers Association (NTDA) Convention in Colorado Springs, Colo., David Coletto, CEO of research and strategy firm ABACUS Data showcased how the generational makeup of the North American workforce has shifted since the outset of the COVID-19 pandemic and how business owners today, in any industry, must be increasingly aware of how their companies are perceived and received by Millennials.
Transportation and trucking may not be the most glamorous industry, but it is one of the world’s most vital. Coletto believes trailer dealers and other companies in the sector can use that in their recruitment efforts of Millennials — who now and for the next few decades will represent North America’s largest segment of the workforce.
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“No generation has been written about more than the Millennials but I think often people over-exaggerate the differences between them [and prior generations],” says Coletto. He says just like their parents — most of whom are Baby Boomers — Millennials desire to have a home, family and healthy marriage. They still want to have children and strive to have a successful career. He says what makes them different is the timeline in which they expect to achieve those goals, as well as how they define success in their careers.
Regarding the former, Coletto says the biggest difference between Millennials and their parents are the dates in which they experience major life events. Young people are getting married and having children at older ages than ever before. Coletto says among higher earning career-focused Millennials, in particular, achieving professional success and stability is increasingly being achieved first, marriage and children following later.
Coletto attributes that shift in Millennials’ thinking to their life experiences. He says this is a generation that has seen higher divorce rates among its parents than any other group in history. They’ve also seen the cost of living to raise a family skyrocket from their youth. Coletto says many Millennials are hesitant to take that step into domesticity until they feel they are best prepared to offer the best future for their future children.
